Moon Twp, PA (PressExposure) June 15, 2009 -- Some business owners believe that writing off bad debt is part and parcel of being in business. Whilst this is true to some extent it is also imperative that you are prepared to push bad debtors for payment where possible.
A study by Leeds University showed that 30% of bad debt occurs because the debtor has cash flow issues or their procedures and systems are holding up payment of invoices.
With this in mind a letter from a debt collection agency advising the customer they have been appointed to secure payment is sometimes all that is required for their account to be settled.
Appointing a debt collection agency needn't be the end of a relationship as your customers will understand that all you're really after is to receive payment for the goods and services you have provided them with.
Our experienced i.e. National Asset Management staff work hard to find a quick and amicable solution for payment to be secured in a timely fashion, whilst working hard not to damage relations with your customers.